TAGS: Industrial Coatings
As per TMR’s report, the global anti-reflective coatings market is expected to expand at an 8.2% CAGR from 2021 to 2031.
The market is expected to progress from US$ 4.9 Bn in 2020 to US$ 11.65 Bn by 2031 due to factors such as rising consumption of anti-reflection coatings in the electronics industry and increasing demand for comfortable light transmitting eyeglasses and lenses.
Increases Visibility by Arresting Unwanted Reflections
Anti-reflective coatings increase visibility by arresting unwanted reflections directly from surfaces. Back-glare is one of the major issues associated with sunglasses and eyeglasses. Anti-reflective coatings eliminate the back-glare. Most anti-reflective coatings display features such as low reflectance and high transmittance.
Anti-reflective coatings have gained noteworthy importance in the solar and electronics industries owing to such features. Many of the commonly used materials to manufacture eyeglasses and lenses have anti-reflective and high surface reflection coatings that help to reduce back-glare.
Factors such as environmental regulations linked with raw materials, usability issues, and poor consumer awareness are expected to hamper the growth of the global anti-reflective coatings market in the years to come. However, the increasing demand from the solar energy sector is expected to benefit the global anti-reflective coatings market in the next few years.
Anti-reflective Coatings Market Segmentation
The global anti-reflective coatings market is segmented on the basis of end-user and region. Based on end-user, the global anti-reflective coatings market is classified into solar, electronics, eyewear, automobile, and others.
Anti-reflective coatings are primarily applied on lenses, eyeglasses, touchscreens, smartphone displays, and flat panel displays. In 2020, the eyewear segment held a dominant share of 40% in the global anti-reflective coatings market. With the rising requirement for high light transmitting lenses and eyeglasses from eyewear buyers, the demand for various anti-reflective coatings is expected to increase in the years to come.
North America Dominant in Anti-reflective Coatings Market
By region, the global anti-reflective coatings market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2020, North America held a dominant share of 35% of the global anti-reflective coatings market. Rising demand for anti-reflective coatings from nations such as South Korea, India, and China is expected to propel the Asia Pacific anti-reflective coatings market.
Source: TMR